Notes to Accounts of J L Morison (India) Ltd.

As per the Section 135 of the Companies Act, 2013 every year the Company is required to spend at least 2% of its Average Net Profit made during the immediately 3 preceding financial years on the Corporate Social Responsibility (CSR) activities. Gross amount required to be spent was Rs. 1,58,572/- (P.Y.Rs. Nil) and actually spent by the Company during the year is Rs.1,50,000 (P.Y. Rs. Nil), the details of which is as given below:

2. Previous years'' figures have been regrouped/reclassified whenever necessary, to conform to current years'' classification. Signatures to Notes 1 to 41 which form an integral part of the financial statements.

Mar 31, 2015

A) Rights of Equity Shareholders

The Company has only one class of Equity Shares having a par value of
Rs.10 per share. Each holder of equity shares is entitled to one vote per
share. The Company declares and pays dividends in Indian rupees. The
dividend proposed by the Board of Directors is subject to the approval
of the shareholders in the ensuing Annual General Meeting.

During the year ended 31st March, 2015, the amount of per share
dividend recognized as distributions to equity shareholders was Rs. 1
(31st March, 2014: Rs. 1)

In the event of liquidation of the company, the holders of equity
shares will be entitled to receive remaining assets of the company,
after distribution of all preferential amounts. The distribution will
be in proportion to the number of equity shares held by the
shareholders.

b) Share held by holding/ultimate holding company and / or their
subsidiaries / associates

None of the equity shares are held by the holding/ ultimate holding
company and/ or their subsidiaries / associates.

Payment against supply from Micro Small and Medium Enterprises and
ancillary undertaking are made in accordance with the agreed credit
terms and to the extent ascertained from available information, the
Company does not have any MSME creditors outstanding beyond the
stipulated credit period.

*Amortised over lease period * **includes cost of shares of society

Pursuant to the enactment of Companies Act 2013, the Company has
charged depreciation as per useful lives of its fixed assets as
specified in Part C of Schedule II. Accordingly the unamortised
carrying value is being depreciated / amortised over the revised/
remaining useful lives. Due to the above, amounting to Rs. 38,80,975/-
has been charged as depreciation in the statement of Profit and Loss
Account.

As at As at
31s1 March,2015 31s1 March,2014
2 CONTINGENT LIABILITIES AND
COMMITMENTS NOT PROVIDED FOR IN RESPECT OF

Estimated amount of contracts remaining
to be executed on account of capital 15,83,697 -
commitment

The Company is a defendant in various legal actions and a party to
claims as above, which arose during the ordinary course of business.
The Company''s management believes based on the facts presently known,
that the results of these actions will not have a material impact on
the Company''s financial statements. It is not practicable for the
Company to estimate the timings of cash flows, if any, in respect of
the above.

3. SEGMENT REPORTING

As the Company''s business activity fall within a single primary
business segment viz FMCG products and its operation are within India,
the disclosure requirement of Accounting Standard - 17 "Segment
Reporting notified in Companies (Accounting Standards) Rules 2006 is
not applicable.

4. RELATED PARTY DISCLOSURES

Related party disclosures, as required by Accounting Standard 18 -
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India, are given below:

The following table sets out the funded status of the gratuity plan and
unfunded status of Leave Encashment and the amounts recognized in the
Company''s financial statements as at 31st March, 2014

3. SEGMENT REPORTING

As the Companys business activity fall within a single primary business
segment viz FMCG products and its operation are within India, the
''isclosure requirement of Accounting Standard - 17 "Segment Reporting"
notified in Companies (Accounting Standards) Rules 2006 is not
applicable.

4. RELATED PARTY DISCLOSURES

Related party disclosures, as required by Accounting Standard 18 -
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India, are given below:

5 Current tax expenses include Rs.1,57,985
(P.YRs.1,40,100/-)andRs.2,17,329/-(P.Y.Rs. 57,128/-) in respect of wealth tax
and Income tax of earlier years respectively.

6 In respect of properties taken/given on lease by the Company, the
Lease agreements are mutually renewable/ cancellable.

7 Previous years''figures have been regrouped/reclassified whenever
necessary, to conform to current years'' classification.

Signatures to Notes 1 to 37 which form an integral part of the
financial statements.

Mar 31, 2013

1 SEGMENT REPORTING

As the Company''s business activity fall within a single primary
business segment viz FMCG products and its operation are within India,
the disclosure requirement of Accounting Standard - 17 "Segment
Reporting notified in Companies (Accounting Standards) Rules 2006 is
not applicable.

2 RELATED PARTY DISCLOSURES

Related party disclosures, as required by Accounting Standard 18 -
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India, are given below:

Earnings Per Share, as required by Accounting Standard 20 - "Earnings
Per Share" issued by the Institute of Chartered Accountants of India,
is given below:

Earnings Per Share is calculated by dividing the profit attributable to
the Equity shareholders by the weighted average number of equity shares
outstanding during the year. The net profit considered for calculation
of EPS is as follows:

4 Provision for current tax includeRs. 1,40,100 (P.Y Rs. 1,40,267) and Rs.
57,128/- (P.Y Rs.Nil) in respect of wealth tax and Income tax of earlier
years respectively.

5 In respect of properties taken/given on lease by the Company, the
Lease agreements are mutually renewable/ cancelable.

6 Previous years'' figures have been regrouped/reclassified whenever
necessary, to conform to current years'' classification.

Mar 31, 2012

A) Rights of Equity Shareholders

The Company has only one class of Equity Shares having a par value of Rs.
10 per share. Each holder of Equity Shares is entitled to one vote per
share. The Company declares and pays dividends in Indian Rupees. The
dividend proposed by the Board of Directors is subject to the approval
of the share holders in the ensuing Annual General Meeting.

In the event of liquidation of the Company, the holders of Equity Shares
will be entitled to receive remaining assets of the Company, after
distribution of all preferential amounts. The distribution will be in
proportion to the number of Equity Shares held by the shareholders.

b) Share held by holding/ultimate holding company and I or their
subsidiaries / associates

None of the Equity Shares are held by the holding/ ultimate holding
company and/ or their subsidiaries / associates.

c) Aggregate number of bonus shares issued, share issued for
consideration other than cash and shares bought back during the period
of five years immediately preceding the reporting date : Nil

d) Shares reserved for issue under options : Nil

a) Term loan from bank in respect of housing loan was taken during the
financial year 2007-08 and carries interest @ 11.50% to 14.50%. The
loan is repayable in 67 monthly installments (principal plus interest)
of Rs. 48,640/- from date of the loan. The loan is secured by
hypothecation of Residential house of the Company pertaining to
business.

b) In the case of vehicle loan from bank is taken during the financial
year 2009-10 and carries interest @ 10.14%. The loan is repayable in 36
monthly instalments (principal plus interest) of Rs. 23,424/- from date
of the loan. The loan is secured by hypothecation of one vehicle of the
Company pertaining to business.

c) In the case of vehicle loans from others are taken during the
financial year 2010-11 and 2011-12 interest @ 10.37% and 8.11% which
are payable in 60 and 36 monthly instalments (principal plus interest)
of Rs. 40,262/- and Rs. 2,49,400/- respectively from date of the loan. The
loan is secured by hypothecation of one vehicle often Company
pertaining to business.

As the Company's business activity fall within a single primary
business segment viz FMCG products and its operation are within India,
the disclosure requirement of Accounting Standard - 17 "Segment
Reporting notified in Companies (Accounting Standards) Rules 2006 are
not applicable.

3 RELATED PARTY DISCLOSURES

Related party disclosures, as required by Accounting Standard 18 -
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India, are given below:

A) Names of related parties and description of relationship:

a) Associates with whom transactions have been entered during the year
in the ordinary course of the business

Notes: (i) No amount pertaining to related parties have been provided
for as doubtful debts. Also, no amount has been written off / back.

(ii) The related parties are identified based on information available
with the Company.

4 EARNINGS PER SHARE

Earnings Per Share, as required by Accounting Standard 20 -
''Earnings Per Share" issued by the Institute of Chartered
Accountants of India, is given below:

Earnings Per Share is calculated by dividing the profit attributable to
the Equity shareholders by the weighted average number of equity shares
outstanding during the year. The net profit considered for calculation
of EPS is as follows:

5 Provision for current tax include Rs. 1,40,267 (previous year Rs.
1,18,853) in respect of wealth tax.

6 In respect of properties taken/given on lease by the Company, the
Lease agreements are mutually renewable/ cancelable.

7 As notified by Ministry of Corporate Affairs, Revised Schedule VI
under the Companies Act, 1956 is applicable to the Financial Statements
for the financial year commencing on or after 1s: April, 2011.
Accordingly, the financial statements for the year ended 31s: March,
2012 are prepared in accordance with the Revised Schedule VI. The
amounts and disclosures included in the financial statements of the
previous year have been reclassified to conform to the requirements of
Revised Schedule VI.

8 Previous years figures have been regrouped/reclassified whenever
necessary, to conform to current year's classification. Signatures
to Notes 1 to 39 which form an integral part of the financial
statements.

2. There is no Micro and Small Enterprises, to whom the Company owes as
at 31st March, 2011. This information as required to be disclosed under
the Micro, Small and Medium Enterprises Development Act, 2006 has been
determined to the extent such parties have been identified on the basis
of information available with the Company.

3. Managerial Remuneration

Note:

Since no commission is payable to any managerial person, computation of
net profit u/s 349 of the Companies Act, 1956 is not given.

4. Retirement Benefit

A) Defined Benefit Plans

The following table sets Out the funded status of the gratuity plan and
unfunded status of Leave Encashment and the amounts recognized in the
Company's financial statements as at 31st March, 2011

a) Gratuity Fund (Funded)

vii) Amounts forthe current and previous three years are as follows:

Note: Since Company has started providing the gratuity as per AS-15
(Revised) from 2007-08, figures are given for four years.

(i) No amount pertaining to related parties have been provided for as
doubtful debts. Also, no amount has been written off/ back

(ii) The related parties are identified based on information available
with the Company

8. During the year, an amount of Rs.2,26,42,498/- representing Sales
tax deferment loan arising on prepayment option exercised by the
company, has been written back and is reflected under head "Other
Operating Income."

9. Information required as per part II of Schedule VI of the
Companies Act, 1956.

(A) Own Manufacturing Goods : Not Applicable

(C) Production : NotApplicable

(D) Raw Material Consumed : Not Applicable

(E) Percentage Of Raw Materials Consumed : NotApplicable

10. Previous year's figures have been regrouped/re-arranged and
reclassified wherever considered necessary.

2. Borrowing costs of Rs.13,21,158/-on loans for acquiring is added to
the cost of respective fixed assets

3. Segment Reporting

The company has identified trading business segments as its primary
segment.

Trading Business segments of the company are Personal & Healthcare and
Crude Edible Oil in Bulk.

Secondary segment of the company is not applicable.

Revenue and expenses directly attributable to segments are reported
under each reportable segment. All other expenses which are not
attributable or allocable to segments have been disclosed as
unallocable expenses.

4. Related Party Disclosures

Related party disclosures, as required by Accounting Standard 18 -
"Related Party Disclosures" issued by the Institute of Chartered
Accountants of India, are given below: